Sodexo has bought Peyton and Byrne's public contracts business after the company, founded by Oliver and Siobhan Peyton, entered a pre-pack administration.
The administration is thought to have arisen after Peyton & Byrne lost its contracts at the Royal Botanic Gardens Kew and the British Library.
It emerged earlier this month that Ampersand had dislodged Peyton and Byrne to win a £28m, five-year deal at Kew. Meanwhile, news broke in June this year that Graysons had taken the £4m-a-year British Library contract, starting this month.
Foodservice giant Sodexo has bought Peyton and Byrne's five remaining public contracts at the National Gallery, the Royal Academy of Arts, the Imperial War Museum, the ICA and the Wallace Collection.
They will be operated by Sodexo Sports & Leisure, Sodexo's catering and hospitality partner for sporting venues, major events and visitor attractions in the UK and Ireland.
Sodexo declined to reveal how much it had paid for the business. It will continue to use the Peyton & Byrne name.
In the meantime, five bakeries and cafes, also part of the business founded by Oliver and Siobhan Peyton in 2005, have been sold separately to the Peyton family.
Deloitte, administrator for Peyton & Byrne, said in a statement: "This famous catering brand, founded by restaurateur Oliver Peyton, has gone through a difficult trading period following the loss of two key contracts. However, today's announcement confirms the business has a future and jobs are being preserved."
Nathalie Bellon-Szabo, global COO Sodexo Sports & Leisure, said: "We are delighted to join forces with Peyton and Byrne to grow our business in London, a highly strategic market for Sodexo Sports & Leisure, which is already present in several museums and cultural attractions across the UK."
Chris Bray, CEO Sports & Leisure, Sodexo UK & Ireland, said: "Sodexo and Peyton and Byrne have shared values that put our clients first and ensure we respond to their needs and the needs of the market. Oliver and Siobhan have built a truly aspirational brand in the London visitor attractions market. We are bringing together our resources, talent and expertise to develop an attractive customer experience that will deliver greater value to all our clients."
Oliver Peyton commented: "I am excited about this opportunity which is good news for the future of the Peyton and Byrne brand and Sodexo. Sodexo has a strong record in public catering, and I am looking forward, alongside Siobhan, to working with them in meeting the challenge of a highly competitive market and taking the public catering business of Peyton and Byrne to the next level."
This was the second acquisition announced by Sodexo in as many days, after it emerged yesterday that it had bought fresh food procurement firm PSL.
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